Neuquén takes off

It creates the Large Investment Incentive Regime (RIGI), articles 164 to 228: fiscal, FX and customs stability for 30 years, tax benefits and free availability of foreign exchange for large-scale projects (general threshold from USD 200 million).

Enacted on June 27, 2024; published in the Official Gazette on July 8, 2024.

Owners of large investment projects (energy, mining, infrastructure, technology, etc.) that join the regime.

It amends Annex I of Decree 749/2024 (which regulates the RIGI of Law 27.742). It extends by one (1) year the deadline to adhere to the RIGI, counted from July 8, 2026 (new deadline: July 8, 2027). It reconfigures the Oil and Gas subsector with two investment floors: offshore exploration from USD 200,000,000 in eligible assets and new onshore developments from USD 600,000,000. It details the Technology sector, which includes biotechnology, nanotechnology, mobility with new powertrains, energy-transition technologies, the aerospace and satellite industry, the nuclear industry, software, robotics, artificial intelligence and the arms and defense industry.

Signed on February 18, 2026, published in the Official Gazette on February 19, 2026 (notice 338519); it took effect the same day as its publication.

Owners of large investment projects that adhere to the RIGI, in particular in the oil and gas sector (offshore and onshore operators) and the new technology verticals (nuclear, aerospace/satellite, AI, software, biotechnology, defense). It benefits those who had not yet adhered by extending the deadline one more year.

A text with first-round approval (Jun 24, 2026): a reinforced regime for 'new economic activities' — those not developed, produced or provided in the country (the scope is by NOVELTY of the activity, with objective regulatory criteria; there is no sector list in the articles — data centers, AI, semiconductors, lithium batteries, green hydrogen or reactors are the examples the ruling party cites). Minimum investment USD 1,000 M per project (20% committed in the first 2 years), income tax at 15%, dividends 3.5% from the fourth year, employer contributions 10%, tiered free availability of foreign exchange 20/40/100% over 3 years from the first export, and exemption from import/export duties. Added by the Chamber of Deputies (it was not in the original bill): a local-supplier development plan with a local-contracting commitment of at least 20% of the amount destined for suppliers, provided there is local supply available on market terms (art. 17 subs. o), plus a public registry of projects.

Not in force: with first-round approval in the Chamber of Deputies (Jun 24, 2026), pending consideration and definitive enactment in the Senate. verif ↗

World-scale investors with projects >USD 1,000 M in activities that do not exist in the country today (hyperscalers/AI, semiconductors, batteries, hydrogen, nuclear — per the debate examples). Associated flagship project: OpenAI's letter of intent (Stargate Argentina) for a 500 MW data center in Patagonia, ~USD 25,000 M (Oct-2025; intention, NOT FID). On the local side: supplier SMEs — the approved text requires committing at least 20% of spending to domestic suppliers when there is local supply on market terms.

Neuquén created its own provincial investment-promotion regime, nicknamed by the press the 'Neuquén RIGI'. It offers adhering projects: a Turnover-Tax exemption of up to 100% on the promoted activity; a Stamp-Tax exemption on the instruments linked to the project (signed after the adhesion request); a Property-Tax exemption of up to 100% for a new plant (up to 50% in the case of adding a new production process); and 10-year provincial fiscal stability (Art. 34: the provincial tax burden cannot rise from the project's submission). It has two doors by amount: a Simplified regime for investments of USD 500,000 to 1,000,000 (expedited approval) and a General regime for more than USD 1,000,000 (matrix evaluation). It requires 70% Neuquén labor. It adds non-fiscal incentives: access to State real estate, BPN financing and FOGANEU guarantees.

Law 3502 enacted in April 2025; regime operational since its regulation by Decree 0097/2026 (February 2026).

Companies that invest and settle in Neuquén in promoted sectors (energy and related hydrocarbons, agribusiness, forestry industry, tourism, technology, health, infrastructure). The Simplified tranche (USD 500,000 to 1,000,000) targets precisely the size of a Vaca Muerta satellite-services SME: it is the ecosystem's fiscal gateway, not the megaproject's. It requires 70% Neuquén labor. prob ↗

Title XXIII of Law 27.802 creates the RIMI: tax benefits for productive investment by Micro, Small and Medium Enterprises (up to Medium Tier 2) that the RIGI —designed for megaprojects— does not reach. Two benefits (arts. 182-183): ACCELERATED income-tax depreciation (new movable goods in 2 annual installments; works at 60% of the useful life; irrigation, high energy efficiency, anti-hail nets and livestock in 1 installment) and refund of VAT tax credits. Minimum investment amounts (art. 181): USD 150,000 (micro), USD 600,000 (small), USD 3.5 M (medium T1) and USD 9 M (medium T2); investments in irrigation, high energy efficiency, anti-hail nets and livestock require no minimum. Financial assets, portfolio assets and inventory goods are excluded (art. 180). Decree 242/2026 regulates it and Joint GR 5849/2026 (ARCA + Energy + Agriculture, May 18, 2026) made it operational.

Regime window (art. 1 of Decree 242/2026): it covers investments made from the entry into force of Law 27.802 (Mar-2026) and up to 2 years counted from the entry into force of Joint GR 5849/2026 (May 18, 2026) — that is, an adhesion window until ~May-2028. verif ↗

Micro, Small and Medium Enterprises (up to Medium Tier 2, with an MSME certificate under Res. SEPyME 220/2019) covered by art. 53 of the Income Tax Law, for productive investments nationwide. ARCA, the Energy Secretariat and the Secretariat of Agriculture, Livestock and Fisheries are involved.

A provincial industrial-promotion regime. Law 378 declares that any NEW industrial activity (or the expansion of an existing one) that settles in Neuquén 'will be protected and stimulated by the State', and enables granting by individual AGREEMENT with the Executive (not automatic) a menu of benefits: exemption from provincial taxes and Stamp/fees/patents for the terms and amounts the agreement sets, sale of public land at fiscal price, energy at a preferential tariff, industrial-water provision and access roads. It expressly excludes municipal fees and mining royalties. In current practice, the most concrete benefit for the satellite supplier is the allocation of LOTS AT FISCAL PRICE with industrial use in the provincial parks (framework Resolution 265/2018 'Industrial Areas' and Decree 1616/2015): Neuquén capital (+900 ha, +300 companies, with a sector dedicated to hydrocarbon services), Añelo (700 ha reserved), Plaza Huincul (395 ha) and Zapala (with a Free Zone).

Law 378 in force since its enactment (08/27/1964); its parks and fiscal-price-lots regime operates today under Res. 265/2018 and Decree 1616/2015.

Companies that settle NEW industrial activity in Neuquén (or expand an existing one), including the Vaca Muerta satellite-service supplier that wants to install a plant, workshop, operating base or warehouse. The fiscal-price-land benefit targets directly whoever settles in the parks of Neuquén capital, Añelo, Plaza Huincul or Zapala. prob ↗

A provincial program managed by Centro PyME-ADENEU (with the Ministries of Economy and Tourism) that grants a tax credit of up to 20% of investments made within the province to pay provincial taxes. The percentage is deliberately biased in favor of the local supplier: a Neuquén company that buys from a Neuquén supplier accesses 20%, but if it buys from an outside supplier it drops to 5%; a non-Neuquén company that hires a Neuquén supplier still reaches 20%, and if it hires from outside it gets 0%. Caps: MSMEs up to $20 million, large companies $30 million, economic groups $60 million. 2025 quota: $3,000 million.

An annual program in force: Decree 982/2021 created it and it is extended each fiscal year. 2025 edition: investments from 01/01/2025 to 12/31/2025 (filing until 02/13/2026); it continues in 2026, funded by Art. 24 of Law 3552 ($3,000M quota).

Companies (MSMEs, large ones and economic groups) that invest in the province. The design explicitly rewards whoever buys from Neuquén suppliers: for the local satellite supplier it is a demand magnet, because companies that invest have a direct tax incentive (20% vs 5%/0%) to hire it instead of an outside supplier. prob ↗

A provincial regime of preference for local suppliers in the hydrocarbons and mining value chain. Certified Neuquén companies have a preference margin (9% and 6% depending on the supplier's tier) and a right to match the best economic offer of a non-certified competitor ('first refusal'). It repeals the previous regime (provincial Laws 2755, 2802 and 3032).

Enacted and regulated in 2023. prob ↗

Suppliers and SMEs of the hydrocarbons and mining value chain; the procurement of provincial bodies, concessionaires and operators covered. It rewards the certified local supplier over the outsider. prob ↗

Neuquén FORMALLY adhered to the Large Investment Incentive Regime (RIGI) created by national Law 27.742 (Ley Bases), Title VII, Chapters I to XII, articles 164 to 228 (Art. 1 of Law 3491). The adhesion is the legal piece that obliges the province to respect, for projects that adhere to the national RIGI, the benefits of the federal regime: fiscal/regulatory/customs stability for 30 years, tax benefits, free availability of foreign exchange and FX stability, for large-scale projects (general threshold from USD 200 M). Without this provincial adhesion, the provincial taxes (Turnover Tax, Stamp, Property) were left outside the stability umbrella the RIGI promises the Vaca Muerta megaprojects. The law designates the Ministry of Economy, Production and Industry as enforcement authority (Art. 3) and invites the municipalities to adhere (Art. 4). IMPORTANT PRECISION: the text of Law 3491 does NOT itself contain rates, exemptions of Turnover/Stamp/Property tax "up to 100%" or a "guaranteed official dollar" — those benefits come from the NATIONAL RIGI (Law 27.742) to which this law adheres, and the province's own regime with tiered exemptions is Law 3502 "Invest in Neuquén". 3491 is the pure adhesion to the federal regime; it should not be confused with 3502.

From its publication in the Official Gazette (January 2025; promulgated by Decree 37/2025 of 01-08-2025).

Owners of large investment projects located in Neuquén —mainly energy and unconventional hydrocarbons in Vaca Muerta (YPF and majors, midstream such as VMOS, LNG, gas pipelines)— that adhere to the national RIGI and need the 30-year fiscal stability to also reach the provincial taxes. Indirectly, the whole ecosystem of suppliers and satellite services built around each megaproject the RIGI unlocks. prob ↗

Law 27.743 'Palliative and Relevant Fiscal Measures'. The rule is structured in at least eight titles: (I) an exceptional moratorium/regularization of tax, customs and social-security obligations due as of 03/31/2024 (20-70% interest forgiveness and 100% of fines by stage); (II) an Asset Regularization Regime (asset declaration) with a tiered special tax 5%/10%/15% by stage (stage 1 until 09/30/2024, stage 2 by 12/31/2024, stage 3 by 03/31/2025); (III) Wealth Tax: REIBP (a Special Advance-Payment Regime, valid until 12/31/2027) and a gradual rate reduction; (IV) Real Estate Transfer Tax - ITI (art. 67): it repeals the ITI for natural persons and undivided estates; (V) Income Tax (arts. 68-84): it restores the tax on 4th-category labor income with new progressive brackets and semiannual adjustment from 2025; (VI) Simplified Regime for Small Taxpayers - monotributo (arts. 85-97): higher revenue caps and recategorization; (VII) Consumer Fiscal Transparency Regime (arts. 98-101); (VIII) Other fiscal measures (arts. 102-104). It is the tax leg that accompanied the Ley Bases.

In force from the day after its publication in the Official Gazette (07/08/2024), with each regime's entry into force subject to its regulation. The asset declaration and the moratorium were effectively executed in stages during 2024-2025.

Taxpayers with obligations due as of 03/31/2024 (moratorium); resident natural persons, undivided estates and companies that regularize assets (asset declaration); Wealth Tax taxpayers (REIBP/rate reduction); natural-person and estate real-estate sellers (end of the ITI); dependent workers and self-employed covered by 4th-category income tax; small monotributo taxpayers. It excludes public officials, certain bankrupt parties and those convicted of tax/customs crimes.

A measure split in two. (1) IN FORCE: art. 1 of Law 27.798 (2026 Budget) requires execution to close Fiscal Year 2026 with a BALANCED or SURPLUS financial result — but that clause applies ONLY to 2026, it does not institute a permanent rule. (2) STILL A BILL (not in force): the "fiscal rule" as a permanent institute — automatic spending adjustment if revenue falls or spending rises, extension to the entire National Public Sector and criminal sanctions (1-6 years for spending without accredited resources; 3-10 years for irregular BCRA issuance; nullity of violating acts) — lives in the National Commitment for Fiscal and Monetary Stability bill, which was NOT approved: it failed in the Chamber of Deputies on Dec 17, 2025 (it was not put to a vote). The name "lock on the State" describes that stronger half, still without legislative enactment.

The in-force component (art. 1 Law 27.798) applies from the publication in the Official Gazette on Jan 2, 2026 and only for fiscal year 2026. The permanent component ("lock on the State") has no validity: it remains a bill.

In-force component: the National Administration, required to execute 2026 with balance or surplus. Projected component: it would reach the entire National Public Sector, the officials who authorize spending without accredited resources and the BCRA authorities for irregular issuance, in addition to disciplining the Legislative Branch (any law with additional spending would require its financing in the following year's budget). prob ↗

The PAÍS Tax traveled a full path under Milei and stopped being charged. (1) Decree 29/2023 (signed Milei/Posse/Caputo, signed and published in the Official Gazette 12/13/2023) took to 17.5% the rate for goods imports (NCM, with exclusions for the basic basket and certain fuels) and for foreign-trade freight/transport, amending art. 13 bis of Decree 99/2019. (2) Decree 777/2024 (DECTO-2024-777-APN-PTE, signed 08/30/2024 by Milei/Francos/Caputo, Official Gazette 09/02/2024) reduced those rates (subsections d] and e] of art. 13 bis of Decree 99/2019) back to 7.5%. (3) On 12/23/2024 the tax expired at the end of the 5-fiscal-year term set in art. 35 of Law 27.541 (in force since 12/23/2019): the Milei government did NOT extend it and it stopped being charged. Its return would require a new law from Congress. The measure's actual status is REVERSED/extinguished: the tax is no longer charged (the panel's status chip still shows 'in execution' because our status scale has no 'reversed/extinguished' state; the extinction is explained here and under 'Our reading').

Decree 777/2024 with effect for FX purchases/operations from its publication (Official Gazette 09/02/2024). The tax's elimination is in force from 12/23/2024 (expiry of Law 27.541's 5-fiscal-year term).

Goods importers (NCM, except the basic basket, certain fuels/energy and excluded items) and those contracting foreign-trade freight/transport services, who paid the PAÍS Tax when acquiring foreign exchange for those operations. With the 12/23/2024 elimination, all of them stopped paying that 7.5% on the import cost.

A tax-simplification program the Executive has been announcing but which as of June 2026 is NOT a rule: it was not submitted to Congress as a bill nor is there a law, decree or file number for the 'comprehensive reform' as a single package. Announced/in-design components: (1) a 'Super VAT' or unified VAT, which would replace provincial Turnover Tax (~78% of the provinces' own revenue in 2025) with a scheme where the Nation retains 9% of VAT revenue and each province sets a provincial rate of up to 12% (total cap 21%, the current level), 'to generate tax competition between provinces' (figures per Chequeado, Nov 1, 2025); (2) a corporate income-tax cut (30%→27% and 35%→31.5%, from 2026) and a simplified regime for natural persons — but these components travel within the Labor Reform bill (tax chapter submitted to the Senate in Dec-2025), not in a standalone 'comprehensive' one; (3) elimination of internal taxes on a broad list of goods (also within the Labor Reform tax chapter, e.g. electronics); (4) elimination of the check tax 'when the fiscal surplus is consolidated'. Caputo explicitly ruled out a single-package reform: the Government advances 'in installments', first legal persons and then natural persons, 'as the numbers allow' (a statement gathered by El Cronista, not by the Chequeado primary source). The declared intention was to send the tax piece from 2026 on, but it did not materialize as a standalone rule. The most novel component (Super VAT) is the least advanced: it requires revenue-sharing reform and the agreement of each provincial legislature.

Not in force: there is no rule in effect. It is an announced program in design. The declared intention was to submit the tax piece to the Chamber of Deputies in 2026 (Milei statements gathered by press, Jan-2026), but as of June 2026 it was neither submitted nor enacted as a standalone comprehensive reform. The dates and the mention of the 2026 IMF horizon come from press (El Cronista / La Nación), not from a primary source. The components that DID advance (corporate income-tax cut, internal taxes) came in through the Labor Reform bill, not this one.

Once implemented, it would reach companies (corporate income-tax cut 30%→27% and 35%→31.5%; elimination of internal taxes and the check tax), natural persons (a simplified income-tax regime) and, centrally, the provinces: the Super VAT would replace Turnover Tax —the main source of provinces' own resources (~78% in 2025)— with a provincial rate of up to 12% within the unified VAT, which requires revenue-sharing reform and the agreement of each provincial legislature. Per an IDESA analysis cited by Chequeado, only ~8 jurisdictions (CABA, Buenos Aires, Chubut, Córdoba, Mendoza, Neuquén, Santa Cruz and Santa Fe) could self-finance under the new scheme and the ~16 remaining ones would face difficulties. As of June 2026 the impact is prospective: there is no rule creating obligations.

The Neuquén Provincial Revenue Directorate set a rate of 0% (zero percent) in the Turnover Tax for the "Tourist Accommodation and Restaurant" activities carried out in the "Alto Neuquén" and "Del Limay" regions. The benefit reaches both Direct Turnover Tax taxpayers and those under the Multilateral Agreement regime, provided the service is actually performed within the towns included in those regions. It is settled by applying the 0% rate in the tax filings through the SIFERE LOCALES and/or SIFERE WEB applications, from the 01/2026 installment. Per the official coverage, the Alto Neuquén region comprises towns such as Chos Malal, Andacollo, Las Ovejas, Loncopué and Caviahue-Copahue, and the Limay region includes Piedra del Águila, Picún Leufú and commissions such as Santo Tomás, Paso Aguerre and El Sauce. Pending confirmation in the primary source: the exact and closed list of towns of each region (it comes from press/release, not from the resolution text) and the precise condition of "actual service in the town".

Applies from the 01/2026 installment (January 2026). Announced by the governor on 03/01/2026 and formalized by Resolution DPR 72/2026 in April 2026.

Providers of tourist-accommodation services (hotels, inns, cabins, campgrounds) and food service (restaurants) located and operating in the promoted Alto Neuquén and Limay regions. It benefits local tourism SMEs and entrepreneurs —both direct taxpayers and Multilateral Agreement ones— who stop paying provincial Turnover Tax on that activity, freeing resources to reinvest in the service and generate employment. It does not cover tourism in the large provincial centers (not included in these two regions). prob ↗

The 2025 Tax Law sets the Turnover Tax rates for fiscal year 2025 in Neuquén. It keeps the GENERAL rate at 3% (Art. 4, on Art. 213 of the Fiscal Code). It consolidates in the law's text the sector increases that Decree 122/2024 had set during 2024 for five special activities: Construction goes from 1.5% to 2.25% (and construction-related services to 2%); Communications-related services (postal mail, fixed telephony, satellite/internet telecommunications) from 4% to 5.5%; Financial services from 7% to 9%; Financial-intermediation services from 5.5% to 8.25%. For MSMEs it keeps the relief of Art. 7: micro/small companies not exceeding certain annual provincial revenue caps pay a reduced rate of 2% (a micro-enterprise up to $180,000,000 in subsection a)5, or up to $100,000,000 in subsections b)4-7 and g)) and 3.5% in the next tier, instead of the full 5% rate of the activity. Per official press, the simplified scheme leaves more than 95% of 100%-local taxpayers with reduced effective rates (around 1.5%-1.7% effective). It repeals the 2024 Tax Law (Law 3407) from 12/31/2024.

Fiscal year 2025 (advance 01/2025 onward); enacted 11/21/2024.

All Turnover Tax taxpayers in Neuquén. For the Vaca Muerta satellite ecosystem it is double-edged: (1) the mid-sized/small supplier that qualifies as a micro or small company accesses the reduced Art. 7 rate (2% or 3.5% by revenue) instead of the full 5% — real relief for the local workshop, warehouse or service; (2) on the other hand, whoever provides construction-related services (711001 and related items) now pays 2.25%/2% and not 1.5%, and communications, banking and financial intermediation are left at the highest rates (5.5%, 9%, 8.25%). The general 3% floor is kept as an anchor. prob ↗

Neuquén set its 2026 tax regime (Tax Law 3541) and reformed the Fiscal Code (Law 3542), approved by the Legislature on 11/26/2025 and published in the Official Gazette on 12/19/2025 (in force fiscal year 2026). Turnover Tax: a GENERAL rate of 3% (Art. 4, per art. 213 of the Fiscal Code), with a scheme of reduced rates by activity — transport and construction 2%, manufacturing 1.5% (some 4%), wholesale/retail marketing 5%, hotels and restaurants 4%, communications 5.5%, university liberal professions 4%, electricity generation/distribution 3.5%, financial services 9% / financial intermediation 8.25%. A new tiered regime for Micro and Small Companies (Art. 7): for retail, micro-enterprises pay 2% up to $250M of prior-year income, 2.5% from $250M to $500M, 3% from $500M to $750M and 3.5% from $750M to $1,000M; for services/construction/professions, micro and small ones pay 2% up to $150M, 2.5% up to $300M, 3% up to $450M and 3.5% up to $600M. DIGITAL ECONOMY (the new part): the following are added to Turnover Tax: own-account buying/selling of crypto-assets (code 649992), crypto-asset custody (631123) and crypto mining/validation at 5% ('other services' subsection); crypto buying/selling/exchange intermediation platforms (661993) and app-messaging intermediation (631204) pay 5.5%; door-to-door messaging managed by platform/app (530091) is at 5%. Fiscal Code reform: it amends 18 articles, incorporates the Nomenclature of Economic Activities (NAES), updates legal references replacing 'AFIP' with 'ARCA', creates the Reference Tax Value (VFRI) as a technical cap to moderate jumps in the valuation that settles the Property Tax, and adjusts fixed amounts and fines (~30%). The urban property tax with improvements starts from a minimum of $33,296 (Art. 10). Per the Provincial Revenue Directorate, more than 95% of taxpayers access reduced rates (Art. 7) and the benefits of the Simplified Regime.

Fiscal year 2026 (approved by the Legislature on 11/26/2025; published in the Official Gazette on 12/19/2025).

EVERY Turnover Tax taxpayer in Neuquén — it is the granular fiscal data point (the real Turnover Tax rate) that touches any satellite supplier of the Vaca Muerta ecosystem, not just the RIGI megaproject. The tiered SME scheme of Art. 7 (2% to 3.5% by revenue tier) relieves the burden of the mid-sized and small supplier; the DPR estimates that more than 95% of the register accesses reduced rates. The new side hits the digital economy: crypto platforms, crypto-asset custody/mining and app messaging come to pay Turnover Tax (5% to 5.5%). The Fiscal Code's VFRI caps the Property Tax rise for every owner (companies and individuals). prob ↗

Neuquén approved by a wide majority (29 votes) its 2026 Budget: Art. 1 sets the Provincial Administration's total expenditures at $7,440,756,391,052 (~$7.44 trillion) and Art. 2 estimates current and capital resources at $7,573,083,939,705 (~$7.57 trillion), yielding a projected positive financial result of ~$132,327 million (surplus). Spending composition by purpose (consolidated): Social services $3.97 T, Economic services $1.06 T, Government administration $1.70 T, Security $590,761 M, Public debt $125,195 M; capital expenditures (public works) total $1.166 T. Resources and debt regime: Art. 27 sets the authorized use of credit for 2026 at $855,829,375,994; Art. 31/32 empowers pledging as guarantee, assigning in payment or in fiduciary ownership the hydroelectric, oil and gas royalties, the extraordinary production fee and the Federal Revenue-Sharing to instrument the debt. Art. 34 extends the credit-use authorization of Law 3481 (2025 Budget) to operate with the Bank. Anticyclical funds: Art. 42 authorizes allocating funds from Art. 2 of Law 3269 (FEDEN - Neuquén Stabilization and Development Fund, made up of the export-royalty surplus) to public works; Art. 43 enables using up to the entire Anticyclical Subfund (Law 3269) for 2026 debt maturities; Art. 46 suspends Law 3391 (FEPN) for 2026. Enacted on 12/11/2025, promulgated by DECTO-2025-1735 (Official Gazette 12/23/2025).

Fiscal Year 2026 (in force from January 1, 2026; enacted 12/11/2025, promulgated and published in the Official Gazette on 12/23/2025).

The entire Neuquén provincial public administration and, indirectly, every economic agent and investor with exposure to the province: the budget sets the framework of spending, resources, public works and borrowing of Vaca Muerta's main district. For the satellite-ecosystem investor, provincial solvency -a projected surplus, falling debt and hydrocarbon royalties as the anchor of resources and the guarantee of the debt- is a subnational sovereign-risk variable: it conditions local fiscal predictability (rate stability, capacity to honor commitments, continuity of the public works that drive service demand). prob ↗

Law 3450 does two things. (1) A special regime of tax regularization and payment facilities for debts due as of 05/31/2024 in Turnover Tax, Property Tax, Stamp Tax and withholding-agent debts: cash payment with a 70% reduction of compensatory interest until 09/16/2024 (50% from 09/17 to 10/15/2024), forgiveness of non-final fines and late surcharges; plans of 2 to 6 installments with forgiveness of 30% of interest and 70% of the financing, and 7 to 12 installments with 10% of interest and 50% of the financing (legal persons require an MSME certificate). (2) Provincial adhesion to the asset-regularization regime of national Law 27.743 (the asset-declaration scheme): whoever externalizes assets accesses the exemption from the Turnover Tax (and accessories) that would have corresponded for those undeclared assets, and Stamp Tax at 50% of what would have corresponded on the instruments over externalized real estate. The province also created a special tax on externalization above USD 100,000, with progressive rates by stage: 0.75% (until 11/30/2024), 1% (until 01/31/2025) and 1.25% (until 04/30/2025). NUANCE: that special provincial tax was later eliminated by Law 3479 (the 2025 tariff law), which aligned Neuquén with the provinces that charged no fee and enabled a refund to those who had already paid it.

Enacted on 07/30/2024. The moratorium/forgiveness had a window until 10/15/2024; the adhesion to the asset-declaration scheme (national Law 27.743) ran until 04/30/2025 (extendable). The special provincial tax on regularized assets was later eliminated by Law 3479 (2025 tariff law).

Neuquén taxpayers with provincial fiscal debt (Turnover Tax, Property Tax, Stamp Tax) who want to catch up with an interest reduction; and, above all, those who adhered to the national asset-declaration scheme (Law 27.743) and needed to shield the operation at the provincial level. In Vaca Muerta terms: subcontractors, suppliers and service SMEs of the ecosystem that repatriate or externalize capital and want to channel it into the activity without the externalization triggering provincial Turnover Tax on the declared assets. prob ↗

The BCRA eliminated the prior approval for resident natural persons to access the free FX market and buy banknotes: the USD 200/month hoarding cap falls (only a USD 100/month limit remains for the use of cash in local currency) and simultaneous operation with the MEP/CCL dollar is allowed. In parallel, Decree 269/2025 repeals Decree 28/2023 (the "blend dollar" 80% MLC + 20% CCL) and reinstates the general regime of Decree 609/2019, and the BCRA starts Phase 3 with managed floating between bands of $1,000-$1,400 with a ±1% monthly adjustment. It is the exit from the currency controls for individuals, with no reversal or judicial halt to date.

Decree 269/2025 takes effect on the day of its publication (04/14/2025); BCRA Com. "A" 8226 has operational validity from 04/14/2025. Regime in force as of June 2026, with no reversal or judicial halt. verif ↗

Natural persons resident in Argentina (MULC access to buy banknotes/hoard with no USD 200 cap or prior authorization) and, via the repeal of the blend dollar, goods and services exporters who settle through the free FX market. National scope (issuers BCRA + National Executive).

The BCRA enables financial institutions to grant MULC access to remit profits and dividends abroad to non-resident shareholders, when they correspond to earnings realized in audited annual financial statements of fiscal years started from 01/01/2025. It is part of Phase 3 of the program (exit from the currency controls / floating bands, April 2025). Profits of fiscal years started up to 12/31/2024 are excluded from free access and can only be channeled via BOPREAL under conditions.

Operational validity from 04/14/2025

Companies with non-resident shareholders (foreign capital) seeking to remit dividends abroad, and the financial institutions / FX operators that intermediate those operations in the MULC. National scope (issuer BCRA).

The IMF Executive Board approved on Apr 11, 2025 a new 48-month Extended Fund Facility (EFF) for Argentina for SDR 15,267 M (~USD 20,000 M, 479% of quota), with an immediate disbursement of SDR 9,200 M (~USD 12,000 M). In domestic law the operation was implemented via DNU 179/2025, which approves the public-credit operations with the IMF under the new EFF, with 10-year amortization and four-and-a-half years of grace; the funds go to canceling the BCRA's non-transferable dollar bills (starting with the one issued on Jun 2, 2015 maturing Jun 1, 2025) and to refinancing tranches of the 2022 EFF maturing within 4 years. The program is in execution: 1st review completed Jul 31, 2025 (~USD 2,000 M) and 2nd review approved May 21, 2026 (~USD 1,000 M), accumulating ~USD 15,800 M disbursed; in the 2nd review the end-of-December net-international-reserves (NIR) target was missed, with a waiver and corrective measures, but the program was neither halted nor reversed.

DNU 179/2025 is in force from its publication in the Official Gazette: Mar 11, 2025. The program's approval by the IMF Board and the first disbursement (~USD 12,000 M) are from Apr 11, 2025.

It reaches the National Treasury and the BCRA (cancellation of non-transferable dollar bills, refinancing of the 2022 EFF) and, through its effect on the fiscal/FX anchor and reserve accumulation, the whole of the Argentine macroeconomy: investors, companies and sovereign financing. It creates no direct obligations on private parties, but it conditions the path of reserves, exchange rate and country risk that frame every investment decision. verif ↗

From Jan 1, 2026 the ceiling and floor of the FX floating band evolve each month at the pace of the latest INDEC monthly inflation figure with a T-2 lag (before: a fixed FX crawl anchor, 2% monthly per the statement itself). In parallel, the BCRA starts a pre-announced international-reserve accumulation program: a base scenario of re-monetization that takes the monetary base from 4.2% to 4.8% of GDP by Dec-2026, suppliable with purchases of up to USD 10,000 million (up to USD 17,000 million if money demand rises an additional 1% of GDP), subject to balance-of-payments flow supply, with daily execution aligned to 5% of the daily FX-market (MLC) volume. It is a BCRA monetary-policy statement, not a decree/law published in the Official Gazette: its validity is operational (BCRA's own execution), not erga omnes normative.

Jan 1, 2026 (operational validity; effective debut Jan 2, 2026, the first business day). The first monthly band update (January 2026) was 2.42%, which is INDEC's MONTHLY inflation for November 2025 (the ANNUAL inflation for Nov-2025 was 31.4%, a figure that does appear verbatim in the statement). The concrete 2.42% value and the band levels of the first day (floor ~914.78 and ceiling ~1,529.03 ARS/USD) come from press (Chequeado), not from the statement: the statement sets the mechanism, not the debut values.

The entire Argentine FX market: importers and exporters (the more predictable, inflation-tied band reduces the risk of an abrupt FX jump), peso holders (the re-monetization via reserve purchases expands the money supply in step with money demand), and the financial sector (LECAP/repo operations and gradual reserve-requirement normalization). For the investor in long USD projects, it redefines the exchange-rate crawl rule and the BCRA's reserve-accumulation path.

The full arc of the export 'blend dollar' under the Milei administration. CREATION: Decree 28/2023 (DNU, Dec 13, 2023, three days after the inauguration) required settling the counter-value of exports 80% through the Free Exchange Market (MLC) and the remaining 20% via the purchase-sale of tradable securities settled in foreign currency and sold in local currency (contado con liquidación, CCL) — the 80/20 regime. ELIMINATION: Decree 269/2025 (Apr 11, 2025, published Apr 14, 2025) expressly repealed Decree 28/2023 and reinstated Decree 609/2019, returning to settlement of 100% of exports through the MLC. That is, the blend was a measure of this administration that the same administration reversed: from Apr-2025 the blend no longer applies and settlement is unified in the official market. BCRA Communication 'A' 8227 (Apr 15, 2025) implemented the operation (secondary data, not opened in the BCRA primary source in this pass).

The 80/20 blend was in force from Dec 13, 2023 (publication of Decree 28/2023 in the Official Gazette). Its elimination is in force from Apr 14, 2025 (publication of Decree 269/2025 in the Official Gazette): from that date 100% of exports are settled through the MLC and the blend no longer applies. verif ↗

All goods exporters required to settle foreign exchange (energy/Vaca Muerta, mining, agriculture/soy complex, manufactures). Under the blend they received an effective export exchange rate improved by the 20% settled at CCL; with the elimination they settle 100% at the unified official MLC exchange rate. verif ↗

The BCRA created the US-dollar Notes with a redemption option for importers with pending payments (BOPREAL): a bond that channels importers' commercial debt outside the MULC, giving them an instrument to regularize payments abroad without pressuring reserves. It is subscribed in pesos at the reference exchange rate Com. "A" 3500 and amortized in dollars; maximum term 10/31/2027, maximum annual rate 5%, CRyL agent (all confirmed in the text of "A" 7918). Regulatory complement: under Decree 72/2023 the series can be used to cancel tax and customs obligations before AFIP. An instrument effectively issued and awarded in successive auctions since Dec-2023 (it was not merely announced).

12/13/2023 (date of Communication "A" 7918). The first Series 1 auctions started in December 2023; an instrument in force with a maximum amortization term to 10/31/2027.

Only importers of goods and services (natural and legal persons) up to the amount of the imports they have pending payment abroad. The text of "A" 7918 is explicit: 'only importers of goods and services may participate in the subscriptions of these instruments, up to the imports they have pending payment'. The temporal cutoff of the eligible universe (debt with customs registration/services rendered up to 12/12/2023 inclusive) does NOT come from "A" 7918 but from Decree 72/2023.

A progressive reduction of the term to access the FX market (MULC) and pay for goods imports. Com. 'A' 7917 (Dec 13, 2023) set, for the rest of goods (the non-exempt ones), a phased schedule: 25% at 30 calendar days, 25% at 60, 25% at 90 and 25% at 120 calendar days from the customs-entry registration (energy and fuels: immediate access; pharmaceuticals/food/fertilizers/agrochemicals: 30 days; finished vehicles: 180 days). Com. 'A' 8118 (Oct 17, 2024) unified that phasing: for imports made official from Oct 21, 2024 of the goods in points 10.10.1.3 and 10.10.1.4 of the consolidated Foreign and Exchange text, the deferred payment for the FOB value can be processed from 30 calendar days after the customs-entry registration. That is, the bulk of goods went from paying in four tranches (up to 120 days) to a single access at 30 days. INSTRUMENT CLARIFICATION: the convergence to 30 days was NOT done by A 7917 (which sets the initial phasing) but by A 8118; attributing the '30 days' to A 7917 is an error.

The phased scheme is in force from Dec 13, 2023 (Com. 'A' 7917). The unification to 30 days applies to imports made official from Oct 21, 2024 (Com. 'A' 8118, dated Oct 17, 2024). In force.

Goods importers in general (all companies, regardless of size) and the financial institutions and exchange houses that grant MULC access. It especially benefits the industry that imports inputs and capital goods, by shortening the working capital immobilized between customs entry and payment to the foreign supplier. It keeps previous favorable exceptions: energy/fuels with immediate access and special terms (30 days) for pharmaceuticals, food, fertilizers and agrochemicals already contemplated since A 7917.

On Dec 12, 2023 (two days after Milei's inauguration) Economy Minister Luis Caputo announced a devaluation that took the wholesale official dollar from ~$366 to ~$800/USD (nominal jump ~118%), effective Dec 13, 2023, and set a managed sliding path (crawling peg) of 2% monthly as the stabilization program's nominal anchor. The BCRA documents it verbatim in its 2023 Report to Congress: 'Upon setting the new exchange rate at $800/USD, a 2% (two percent) monthly sliding path was determined' (and, in another passage: 'a 2% (two percent) per month sliding path was defined'). It is not a single numbered regulatory act: the wholesale reference value is channeled through Communication 'A' 3500 (daily reference) and the 2% was a policy decision. The crawl's pace was later reduced to 1% monthly from Feb 1, 2025 and the scheme migrated to floating bands from Apr 11, 2025 (later changes documented as their own reforms).

Dec 13, 2023 (announced Dec 12, 2023, in force Dec 13, 2023). The realignment took effect and was not reversed; the later scheme modified the crawl's pace (1% from Feb 1, 2025) and then moved to floating bands (Apr 11, 2025), treated as their own reforms.

The whole economy: exporters and importers (it corrects the anti-export bias of the previous gap), peso holders, dollarized and dollar-indebted sectors, and foreign trade in general. The BCRA notes that the realignment allowed a genuine improvement in the trade balance and a recovery of the level of liquid international reserves.

Two rules signed on 12/22/2023 (published in the Official Gazette on 12/26/2023) dismantle the discretionary prior-approval regime for importing. (1) Resolution 1/2023 of the Trade Secretariat (notice 301300) abrogates Resolution 523/2017 and all its amendments; the recitals describe that regime as the obligation to process Automatic and Non-Automatic Import Licenses by NCM tariff position, so the abrogation eliminates that obligation. (2) Joint General Resolution AFIP-Trade Secretariat 5466/2023 (notice 301303) repeals (art. 15) GR 5271 that governed the SIRA/SIRASE (a prior-approval system with FX quotas) and replaces it with the Import Statistical System (SEDI): an anticipated informational sworn statement, with no discretionary approval. Result: the 'last frontier' of a prior permit to import is eliminated; the importer declares for statistical purposes instead of requesting authorization. The opening was not reversed but deepened: the SEDI itself was later voided by Joint GR ARCA-Secretariat of Industry and Trade 5651/2025 (Official Gazette 02/25/2025), removing the anticipated information.

Both rules are in force from 12/27/2023 (Res. 1/2023: 'the day after its publication'; Joint GR 5466/2023: 'the business day following its publication', the publication being 12/26/2023). The SEDI was in force until 02/26/2025, when Joint GR 5651/2025 voided the anticipated import information. The import opening (no licenses or prior approval) remains in force today.

All importers defined in section 1 of art. 91 of the Customs Code, regardless of size or sector. It especially benefits industry and SMEs that import inputs, parts and capital goods and that previously were at the mercy of the SIRA's discretionary approval and of the Non-Automatic Licenses (whose delay could stall an operation indefinitely). It also reaches parties with commercial debt for imports from foreign suppliers, who had to register in the Commercial Debt Registry. Import-intensive satellite chains —oil & gas, mining, metalworking— are the most sensitive to the liberalization.

It eliminates the Used-Goods Import Certificate (CIBU), a prior-approval procedure, for importing used capital goods of Chapters 84 to 90 of the NCM (machines, mechanical and electrical equipment, instruments). It is replaced by an importer's Sworn Statement in the Malvina Computer System (SIM) certifying that the goods are not waste under Law 24.051 nor intended for energy recovery or final disposal (art. 5). Those goods pay an Extra-Zone Import Duty increased by 100%, capped so it never exceeds 35% (art. 1). The detail of the affected tariff positions and sector prohibitions appears in Annex II of the decree (not read in full in the source; specialized press mentions oil & gas, industrial cutters, automotive tooling molds and graphic machinery).

In force since 04/17/2025 (art. 14: it takes effect the day after its publication in the Official Gazette, which was 04/16/2025).

Importers of used capital goods of Chapters 84 to 90 of the NCM: metalworking industry, oil & gas, mining, printing, automotive tooling and, in general, SMEs and companies that re-equip with imported used machinery. It reduces immobilized working capital by eliminating prior approval.

By national Decree 253/2026 (Apr 16, 2026, Official Gazette Apr 17, 2026), the National Executive delegates to nine provinces —among them Neuquén— the power to grant public-works toll concessions over sections of national routes located in their territory. Art. 1 verbatim: "The power to grant public-works toll concessions for the administration, repair, expansion, conservation or maintenance of sections of national routes is delegated to the Provinces...". Concrete mechanics: (1) the delegation is "functional, limited, temporary and revocable" and the National State RETAINS ownership of the routes; (2) each province signs an agreement with the National Highway Directorate that individualizes the sections and must include a works plan, technical schedule, projected maximum toll and a commitment to hold the National State harmless; (3) the province must call the concessionaire-selection procedure within a maximum of ONE (1) year from the agreement's approval; (4) the concessions have a duration limit of 30 years; (5) the concessionaires can be private, mixed companies or public entities; (6) Art. 7 verbatim: "The funds obtained from the exploitation of the section under concession may not be allocated to the construction of other sections or other works". For Neuquén, Governor Figueroa announced that National Route 242 (part of the Pino Hachado international pass) and part of the RN22 (the entrance from Río Negro to the capital up to Arroyito) will be transferred, with "tolls and weighing for trucks". Pending confirmation in the primary source: the detail of Neuquén's concrete sections comes from the governor's statements in provincial official press, NOT from the decree text (the Official Gazette names no routes); the definitive sections are set in the agreement with the National Highway Directorate, not yet signed.

In force since its publication in the Official Gazette on Apr 17, 2026. The authorization to award concessions is immediate, but its execution in Neuquén depends on the signing of the agreement with the National Highway Directorate (which individualizes sections) and then on the call for tender within the year following the agreement's approval.

The Province of Neuquén (as the new granting authority over sections of national routes in its territory), the National Highway Directorate (the agreement counterpart, which retains ownership), the future private/mixed concessionaires that take the RN242 and the RN22 section (Arroyito-capital) by toll, the construction and road-maintenance companies, the toll- and weighing-system operators, and the users of those routes —particularly the freight transport linked to Vaca Muerta and the Pino Hachado international pass—. Also the other 8 delegated provinces (Corrientes, Santa Fe, Córdoba, San Luis, Mendoza, Río Negro, San Juan, Santa Cruz). prob ↗

DNU 70/2023 amended art. 34 of Law 27.078 (Argentina Digital): the provision of facilities of satellite communication systems became FREE, with mere registration to coordinate frequencies and avoid interference, instead of requiring prior State authorization (new text: 'The provision of facilities of satellite communication systems shall be free. The owners of such systems shall be required to obtain the corresponding registration...'). On that deregulated framework, on Feb 26, 2024 ENACOM published in the Official Gazette four summary resolutions (Summary Res. 1, 2, 3 and 4/2024, same Official Gazette), which authorize the three global LEO-constellation operators (Starlink/SpaceX, OneWeb and Amazon Kuiper) to operate; Res. 4/2024 —the only one opened in the primary source— authorizes the transfer of the license and registration of Tibro Netherlands B.V. Argentine Branch to Starlink Argentina S.R.L. The measure was carried out: Starlink operates commercially (satellite-access connections went from 92,757 at the end of 2024 to 452,018 in 2025 per ENACOM) and was expanded under the same government (Res. 955/2025 E band, Res. 372/2026 W band). No injunction, annulment or judicial halt was found.

Feb 26, 2024 (publication in the Official Gazette of ENACOM's four resolutions). The underlying deregulated framework is in force from DNU 70/2023 (validity Dec 29, 2023).

Global LEO satellite-internet operators (Starlink/SpaceX, Amazon Kuiper, OneWeb) that become enabled to operate; users in rural, remote and underserved areas (countryside, mining, Vaca Muerta fields, agriculture, IoT); and the ecosystem of connectivity providers and satellite services for remote projects. It reduces the regulatory entry cost by moving from prior authorization to mere registration.

Neuquén set up a state interoperability platform on X-Road, the same open-source software used by Estonia and Finland, which lets the State's systems exchange data machine-to-machine without human intervention, with security, traceability and non-repudiation (Law 3290, art. 1). Members of the Ecosystem are the three provincial branches, centralized and decentralized entities, public/mixed companies and private organizations (art. 3). The operating principle is "Once Only": every body that is the authentic source of a data point provides it to whoever requires it, instead of asking the citizen/company again — information is brought to the State only once (it eliminates re-certifications, photocopies and queues). In parallel, Law 3002 (2016) enabled the digital file, document and signature before the three branches; and Decree 2165/2023 established that from 11/01/2023 EVERY provincial Executive procedure is processed exclusively digitally via GDE (physical files in progress had to be digitized). GDE operating figures reported by the province: ~17,000 users, ~12 million documents, ~460,000 files and ~8 million transfers. A concrete acceleration case: environmental licenses fell from 120 to 50 days (reorganization + file digitization). In 2024 the ecosystem was federated with Mendoza (secure data exchange between provinces) and the IRAM 17160 standard was published with Neuquén as a reference.

Law 3290: 06/16/2021. Exclusively digital GDE (Decree 2165/2023): 11/01/2023.

Companies and suppliers that process authorizations, permits, licenses and registrations before the provincial State (including the Vaca Muerta satellite ecosystem: service companies, SMEs, logistics providers); the general public; municipalities that connect to the ecosystem. Direct benefit: less re-filing of documentation, a traceable digital file, shorter timeframes. unconf

Law 3286 authorizes the Executive to constitute FOGANEU S.A.P.E.M., a public guarantee fund that grants guarantees for a fee to MSMEs (national Law 24.467) located or to be located in Neuquén, to improve their access to financing under BCRA rules. Parameters set by the law itself: (1) the guarantees can secure up to 100% of the amount requested from financial institutions (art. 8); (2) no guarantee may concentrate on a single beneficiary more than 5% of the Risk Fund (art. 11); (3) guarantees to medium-sized companies may not exceed 20% of the total guaranteed by the Fund (art. 2 subs. a); (4) an initial contribution by the Executive to the Fund of $50,000,000 (art. 13, subscribed 100% upon constitution, paid in 50% at the act and 50% in 2021, expandable by budget laws); (5) provincial tax and stamp exemptions (art. 12); (6) exclusion of applicants with tax/social-security debt or final sanctions in Repsal (art. 9); (7) a three-member board (Economy and Infrastructure, Production and Industry and Centro PyME-ADENEU, art. 16) and a Guarantee-Granting Committee by competition (art. 17). Operating status reported by the provincial government as of May 2026 (probable, secondary official source): a risk fund of ~$1,851 million, guarantees granted of ~$3,376 million, live risk ~$3,139 million, 81 MSMEs assisted (72 with a first guarantee), a maximum project amount of ~$90 million and an average financing ticket of ~$40 million; coordination with Banco Provincia del Neuquén, CFI, IADEP and the Más Pymes Más Futuro program.

2021-05-06 (enactment; FOGANEU operational and with portfolio figures reported as of May 2026)

MSMEs located or to be located in Neuquén that need credit and lack sufficient collateral of their own: suppliers and service companies of the Vaca Muerta ecosystem, industrial, commercial and services SMEs. Indirectly, the financial institutions (Banco Provincia, commercial banks) that lend against the top-rated BCRA public guarantee. prob ↗

Decree 1057/2024 regulates arts. 101-152 (Hydrocarbons Law 17.319), 153-158 (Gas Law 24.076) and 163 of Title VI of the Ley Bases 27.742. It operationally enshrines the free export and import of hydrocarbons and LNG: Annex I (arts. 8-9) guarantees the free exercise of the right to export hydrocarbons, which cannot be interrupted during the shipment period or program; Annex II extends the regime to the free export/import of natural gas and LNG and repeals art. 3 of Decree 1738/92 (prior gas-export authorizations). In parallel, Decree 1060/2024 declares of national public interest TGS's private initiative to expand Section I of the Perito Moreno Gas Pipeline (Tratayén-Litoral), +14 MMm³/d over the existing 21 (total 35), the administration's first public work by private initiative.

Decree 1057/2024 took effect on the day of its publication in the Official Gazette: 11/29/2024. No suspension, repeal or judicial halt was found.

Oil and gas producers, refiners and marketers; LNG importers/exporters; gas transporters (TGS in the pipeline case); energy-sector investors; and the hydrocarbon provinces as granting authorities.

Neuquén regulates the water cycle and the waste of unconventional activity with three chained rules. (1) Decree 1483/12 (Annex XVI, regulating environmental Law 1875) requires treating the return water (flowback) IN ITS ENTIRETY before reusing or disposing of it in a sink well (Art. 10), prohibits discharging it -even treated- into surface water bodies under any condition (Art. 11), prohibits using groundwater fit for consumption or irrigation in drilling (Art. 9, requires using surface or saline water), requires a prior Environmental License for every project (Art. 3) and waterproofed pits (Art. 13); moreover, every flowback-treatment methodology must be approved by the Environmental Authority before being applied. (2) Decree 2263/15 classifies as special waste the flowback (Y9), the drilling cuttings (Y13/Y14), the frac sand (Y10) and the muds (Y20), with certified treatment and final disposal; it requires locating the treatment/disposal plants 8 km or more from urban areas (Art. 39) and registering the providers in the REPPSA (Art. 40). (3) Provision SSA 585/22 closes the circuit: every reuse or disposal of treated flowback (Y8/Y9) requires case-by-case authorization from the environmental authority.

Decree 1483/12 in force since 2012 (90 days after its publication); Decree 2263/15 since November 2015; Provision SSA 585/22 since May 2022.

Shale/tight operators and concessionaires (who must comply with treatment and traceability) and, above all, the PROVIDERS of water treatment, flowback management, cuttings disposal and environmental services: to operate they must register in the REPPSA, locate plants 8 km or more from urban areas and obtain prior approval of their technology by the Environmental Undersecretariat. The rule generates forced and recurring regulatory demand, but with concrete authorization barriers. prob ↗

Decree 1631/06 (Aug 31, 2006) approves the province's 'Rules and Procedures for the abandonment of hydrocarbon wells' (Annex I) and incorporates them into the hydrocarbon environmental regulation (Annex VII of Decree 2656/99, which implements Environmental Law 1875; citation corrected by clarifying Decree 162/07). It covers every borehole deeper than 100 meters. It defines TWO types of abandonment — temporary (an exception, subject to a Monthly Abandonment Fee) and permanent — and creates the obligations that sustain the P&A market: (1) a mandatory Well Abandonment Plan, with a schedule, filed with the State Secretariat of Energy and Mining (60 days from entry into force; Ch. I.8-9 and IV.1); (2) the work may only be performed by companies registered in the Provincial Registry of Well Abandonment Operating Companies (I.10); (3) every new well must be categorized within 60 days of completion (I.11) and inactive or 'to-be-abandoned' wells are subject to deadlines by category (I.12); (4) permanent abandonment requires isolating every uncased permeable layer with cement plugs (2.1) and setting AT LEAST TWO cement plugs (2.2) — a first plug with a retainer ≥30 m below the top of good cement sealed with ≥10 m of cement (2.4.1), and a second plug ≥50 m long covering ≥30 m below the surface-casing shoe (2.4.2) —, cutting the casing 2 m below grade, welding a steel cap and covering it with a 1 m³ concrete block (2.5), using API-standard cement (3.7).

In force since its publication in the Official Gazette (Art. 3 of the decree itself, issued Aug 31, 2006); clarifying Decree 162/07 applies retroactively as of Feb 16, 2007.

Concession holders, permit holders and contractors (required to file an Abandonment Plan, categorize wells and pay the Monthly Abandonment Fee for each temporary abandonment) and, above all, cementing and P&A service companies: only firms registered in the Provincial Registry of Well Abandonment Operating Companies may perform the work, and every permanent abandonment requires at least two cement plugs with tightness verification. It is regulatory demand with a licensing barrier — the pattern that favors the already-registered provider.

The Agreement sets a tailor-made fiscal regime for Argentina's first exportable LNG project over five unconventional concessions (CENCH): Meseta Buena Esperanza I and II, Las Tacanas I and II, and Aguada Villanueva Norte. Concrete components: (1) 30-YEAR FISCAL STABILITY/SHIELDING for the project vehicles (provincial tax conditions cannot be raised nor new taxes affecting them created), conditional on the project remaining within the RIGI. (2) TIERED ROYALTIES BY BANDS, indexed to the JKM index (Japan Korea Marker, the Asian LNG price): 7.5% if the average JKM is below USD 16/MMBtu; 10% between USD 16 and 20/MMBtu; 12% above USD 20/MMBtu. (3) TRIENNIAL REVIEW of the thresholds: they adjust cumulatively if the ratio between the JKM and the domestic gas price varies more than 15% from a base value of 4.5 (Pending confirmation in the primary source: the exact indexation mechanics of the bands). (4) INFRASTRUCTURE BONUS of up to USD 175 million as an irrevocable investment commitment by YPF, executable in works or contributions defined with the provincial government once the FID is formalized; the destination is defined within 90 days after the FID and, if it expires without agreement, the Province decides unilaterally. (5) TURNOVER-TAX EXEMPTION on gas sales between project vehicles/SPVs when the destination is LNG export, and Stamp-Tax exemption on the agreement's instruments. (6) Commercial-dispute resolution under International Chamber of Commerce rules seated in Paris, in Spanish. The project's total estimated investment is around USD 25,000 million (disbursements by YPF and partners: ENI, XRG/ADNOC and a third "super-major" pending).

Agreement signed 06/04/2026; full effectiveness subject to (1) legislative ratification by law (session scheduled 06/24/2026) and (2) YPF's Final Investment Decision (FID), which has a maximum of 24 months to notify and evidence international financing.

Direct: YPF S.A. and the LNG Project (Argentina LNG) vehicles/SPVs and their partners (ENI, XRG/ADNOC). Indirect: the Vaca Muerta satellite-services ecosystem — service companies, gas-pipeline and liquefaction-plant builders, logistics, metalworking and SME suppliers that plug into the megaproject and the infrastructure-bonus works. The Province of Neuquén as tax authority (it defines its royalty flow for 30 years) and the Comarca Petrolera (Añelo and surroundings) for the local economic impact. The provincial opposition (UxP, FIT, sectors of ATE) questioned the differential royalties as a "cession of fiscal sovereignty for 30 years". unconf

Neuquén adhered by provincial Law 3297 (enacted 08/11/2021, promulgated 09/01/2021) to national Law 27.424 "Regime for the Promotion of Distributed Generation of Renewable Energy Integrated into the Public Electricity Grid" and its complementary rules. The provincial law is short (5 articles): Art. 1 adhesion; Art. 2 the enforcement authority is determined by the Executive; Art. 3 repeals arts. 4, 8 and 13 of provincial Law 3006/2016; Art. 4 orders regulation within 60 days. The regulation only came via provincial Decree 2325/2023 (11/16/2023), which designates as enforcement authority the General Secretariat and Public Services (with EPEN as distributor/operator) and approves three Annexes. The Annex sets up the concrete operating regime: (1) the grid user can install renewable equipment for self-consumption with surplus injection; (2) User-Generator categories by capacity — UGpe (up to 3 kW, low voltage), UGme (3 kW to 300 kW), UGma (300 kW to 2 MW) — with a cap of 2 MW per Supply Point ("the Grid Coupling Power of the Distributed Generation Equipment may not exceed TWO MEGAWATTS (2 MW) at a single Supply Point"); (3) compensation under a net-billing model administered by the distributor; (4) bidirectional meter; (5) a project signed by an electrical engineer licensed with the Neuquén Engineers Council and installation by qualified installers; (6) a "Community Distributed Modality" already provided for in the 2023 Annex itself (a contract linking the distributor with Community User-Generators and including the case of horizontal-property condominium associations / real-estate complexes). The regime is one of technical authorization and billing: the Annex does NOT contain provincial tax exemptions (Turnover Tax/Stamp/Property). The cap expansion to 12 MW invoked in the brief comes from NATIONAL rules (Res. SE 235/2024), not from the provincial rule.

Law 3297 in force from its promulgation (09/01/2021); the regime became operational with the regulation of Decree 2325/2023, which takes effect from its publication in the Official Gazette (signed 11/16/2023). EPEN authorized the province's first user-generator in August 2025.

Users of Neuquén's distribution grid (households, businesses, SMEs, industry, farmers, horizontal-property condominiums) who want to self-supply with renewable energy and inject surpluses; EPEN as the distributor obliged to receive the injection and settle the net balance; and —key to the observatory's thesis— the ecosystem of INSTALLERS: electrical engineers licensed with the Neuquén Engineers Council, qualified installation companies, importers/distributors of panels, inverters and certified bidirectional meters. prob ↗

Neuquén executed the FIRST precedent of an unconventional-concession lapse in Vaca Muerta. (1) Decree 1148/2025: declares the Puesto Silva Oeste CENCH of Pluspetrol S.A. revoked for violating Art. 2, subsection B of the Agreement approved by Decree 1280/2022 — the company did NOT execute the committed pilot plan, valued at USD 14.2 million (drilling and completion of a horizontal well in the Vaca Muerta Formation + production battery). The province rejected several extensions requested for "commercial reasons". With the lapse of the unconventional title, the area returned to its previous status: only the original Conventional Exploitation Concession remained in force (1997, extended 2008, expiring May 2032). (2) Decree 1270/2025: authorizes Pluspetrol to assign 100% of its stake to GeoPark, which receives a new 35-year CENCH. GeoPark's commitments: a USD 14.5 million pilot plan over 3 years (a 2,500 m horizontal well with 42 frac stages), an infrastructure bonus of USD 4,000,000, USD 362,500 of Corporate Social Responsibility and an annual contribution of USD 20,000 for the Energy and Hydrocarbons Undersecretariat. GeoPark assigns 5% of the block to Gas y Petróleo del Neuquén (GyP) as a strategic partner and operates 95%. Confirmed in the official text of Decree 1270/2025: GyP holds 5% of the economic rights (GeoPark operates 95%), a fixed USD 4,000,000 infrastructure bonus, 12% royalties (new and existing wells) plus a USD 5,278,500 Compensation Bonus. Still pending: the "binding three-year monitoring" was not confirmed in any source.

2025-09-23

Operators with a CENCH in Neuquén that hold areas without fulfilling the committed pilot plan (risk of lapse and reassignment); new entrants to Vaca Muerta via assignment/M&A (GeoPark as a case); GyP, which enters as a partner in re-awarded blocks; and the service companies and satellite SMEs, which gain demand when the area passes to an operator that actually invests (drilling, fracking, batteries, infrastructure). prob ↗

Neuquén moves from a fixed water fee (which, per the rule itself, "had lost its capacity to generate economic incentives") to a VARIABLE FEE indexed to fuel for unconventional drilling. (1) Provision SRH 260/2026 (Water Resources Undersecretariat; date cited by press: Jun 3, 2026), ratified by provincial Decree 792/2026: from Jul 1, 2026 the fee for each m³ of water used in unconventional exploration/exploitation drilling equals the value of 2.5 liters of YPF Oil Grade 3 fuel; from Jan 1, 2027 it rises to 3 liters/m³. The fee is determined by the water's FINAL DESTINATION, even when the supply is provided by a third party/service provider; companies must evidence the actual use with supporting documentation and sworn statements. (2) It declares the reuse, recirculation, recovery and efficient use of water in unconventional activity a PRIORITY PUBLIC POLICY, and instructs the bodies to design incentive mechanisms (eligibility criteria, control mechanisms, minimum allocation percentages) for projects incorporating reuse or complementary uses (productive, agricultural, forestry, industrial, environmental or of social interest). It responds to the provincial water emergency in force since October 2025. BACKGROUND of the same water-shale axis: (3) Provision SRH 67/2023 (Jan 25, 2023): requires buried rigid piping for transporting raw water in urban zones and/or intensive or irrigated farming, prohibits flexible hoses except temporary transport ≤~3 months/year; burial depth ≥1.5 times the calculated general erosion (Art. 3); adaptation deadline Jan 1, 2024 (Art. 11). (4) Decree 268/2022 (Feb 11, 2022): extends by 180 calendar days the State of Water, Social and Productive Emergency across the province (declared by Decree 1379/2021).

Provision SRH 260/2026 published in June 2026 and ratified by Decree 792/2026; the fee of 2.5 l/m³ is in force from Jul 1, 2026 and the 3 l/m³ one from Jan 1, 2027. Background: Prov. SRH 67/2023 from January 2023 (adaptation by Jan 1, 2024); Decree 268/2022 from February 2022.

Shale/tight operators and concessionaires, who see the cost of frac water become more expensive and VARIABLE (a direct opex, indexed to fuel) and must keep traceability by final destination with sworn statements. On the other side of the counter, it opens forced demand for the PROVIDERS of water treatment, reuse and recirculation, flowback management, and for complementary-use projects (irrigation, forestry, industrial): each reused m³ is a fee the operator saves. It also touches the water-transport providers, already required to use buried rigid piping by Prov. 67/2023. prob ↗

Decree 276/2025 (signed on 03/07/2025 by Governor Figueroa) ratifies the Agreement of 02/21/2025 with YPF and, splitting area from the Loma La Lata–Sierra Barrosa concession, GRANTS YPF S.A. two Unconventional Exploitation Concessions (CENCH) over Vaca Muerta: La Angostura Sur I (249 km²) and La Angostura Sur II (103.4 km²), for a term of 35 years each (Arts. 3 and 4), counted from 10/31/2024. Concrete fiscal conditions: (1) a 12% ROYALTY on shale production — the decree states that the economic model was calculated "considering a royalty of twelve percent (12%)... in line with the rate applied... in all the unconventional projects in force in the Province" (it is NOT 18%); (2) also, a quarterly payment equal to 5% of the Net Cash Flow of the Annex C wells, throughout the concessions' term (Art. 11); (3) Corporate Social Responsibility of USD 3,395,000 in one payment (Art. 7); (4) an Exploitation Bonus of USD 1,320,000 in one payment (Art. 8); (5) Stamp Tax of USD 1,342,600 (rate 14‰ on a taxable base of USD 95.9 M of Pilot Plan investment), with broad stamp exemptions for the project's financial/corporate structuring (Art. 12). YPF commits to a Pilot Plan of 4 horizontal wells per block (2,000 m lateral, 28 frac stages) targeting Vaca Muerta; failure to meet the Plan enables the concession's lapse after a 90-day notice (Art. 9). The decree contains NO mandatory 10% GyP stake or triennial-monitoring clause: the "10%" that appears is the annual penalty for late payment (Art. 10).

In force from its publication in the Official Gazette of Neuquén (decree signed on 03/07/2025). The 35-year concession term is counted from 10/31/2024 (Art. 27 bis, third paragraph, Law 17.319), so both concessions expire around 2059.

YPF S.A. (sole concessionaire: the concession is 100% YPF, with no stake of Gas y Petróleo del Neuquén — GyP — in the decree) and the Vaca Muerta satellite-services chain that plugs into a development of ~91 horizontal wells across both blocks (drilling, fracking, sand, OCTG, water/flowback, logistics, midstream). It also affects the Kaxipayiñ Mapuche community, which challenged the decree for lack of prior consultation. prob ↗

Road-connectivity program for Alto Neuquén financed with a CAF loan of up to USD 250 million (Law 3568, 'Program of Connectivity for Regional and International Integration'); it is part of a ~USD 388M CAF package that includes up to USD 137.8M for energy works (Law 3567, 'Territorial Balance and Development Program, 2nd stage': the Alicurá-Villa la Angostura interconnection and the 1st stage of the Northern Ring Closure). The road tranche covers paving 174 km of provincial routes 6, 21, 38 and 57, consolidating two strategic corridors: (1) Andacollo-Los Miches-Guañacos-Pichachén International Pass (binational connection with Chile, via RP 38, 57 and 6; ~88 km to the Pichachén Pass) and (2) El Cholar-El Huecú-Loncopué (via RP 21). Terms in the legal text: total tenor up to 15 years; grace period up to 66 months (roads) / 54 months (energy); interest rate and fees as agreed with CAF under its sovereign-risk criteria (the law sets no number; the 5.40-5.50% per year that circulated is a press estimate). Guarantee: federal tax co-participation revenues (National Law 25.570).

Passed on Jun 25, 2026 and promulgated on Jul 6, 2026 (Decrees DECTO-2026-921/922). They enable the Executive to take the CAF loan and tender the works; the Loncopué-El Huecú stretch (RP 21) was listed as 'already under execution' in the May 2026 announcement. Law 3439 (Provincial Road Fund) has been in force since 2024.

Road-construction companies, public-works suppliers and regional logistics (a direct satellite opportunity: ~USD 267M in works to be tendered). Alto Neuquén towns (Loncopué, El Huecú, El Cholar, Andacollo, Las Ovejas, Varvarco, Guañacos). Binational-trade and tourism operators via the Pichachén Pass. Indirectly, energy integration with Chile and the export outlet corridors toward Chilean and Atlantic ports linked to Vaca Muerta. unconf

The Neuquén Executive Branch approved by Decree 1150/2025 the agreement of September 5, 2025 between Gas y Petróleo del Neuquén S.A. (GyP), Total Austral S.A. and Vaca Muerta Inversiones S.A.U. (VMI), plus the amendments to the operating contracts signed on September 10 with Shell Argentina S.A. Result: a new corporate structure in the unconventional areas La Escalonada (shale oil) and Rincón La Ceniza (wet gas / key to the LNG strategy), both near Rincón de los Sauces — VMI 45% (operator), Shell 45% and GyP 10%; in parallel, YPF acquires 100% of VMI's share capital. The decree formalizes two pieces of the provincial model: (1) the MANDATORY equity stake of GyP of at least 10% in the new unconventional exploitation concessions (CENCH) that the province grants in Vaca Muerta; and (2) an "infrastructure fee" equivalent to an additional 6% of royalties that operators can pay in advance as a bonus to finance works (part of the scheme by which Neuquén raises the royalty floor of new areas from 12% to 18%). In exchange, the province receives USD 6 million of direct revenue, the paving of 24 km of Provincial Route No. 6 and the repaving of another 54 km (with GyP contributing 2,700 tons of asphalt material).

Agreement made on 09/05/2025; contract amendments on 09/10/2025; approving decree and official dissemination in September 2025 (Neuquén Informa, 09/20/2025).

Operators and majors negotiating new unconventional concessions in Neuquén's Vaca Muerta (Shell, Total, YPF via VMI), which now carry GyP as a 10% partner and the obligation to co-finance road infrastructure. GyP, the provincial oil company, which consolidates its role as a shareholder in privately operated areas. And, via the satellite route, the service and road-works SMEs: the infrastructure fee turns royalties into concrete roads and works in the boom zone (Rincón de los Sauces). prob ↗

Neuquén and the Vaca Muerta operators set up a public-private scheme to build critical road infrastructure WITHOUT state budget. The oil companies created a trust (contract signed 06/19/2025, with TMF Trust Company as trustee) that finances and builds the works; the contributions are "voluntary" and, according to the Province's official press release, are counted as advances on royalties, an extraordinary production fee, Turnover Tax and/or other provincial taxes (the exact tax mechanics live in Annex I of the contract, still confidential). Anchor work: 51 km connecting Provincial Routes 8 and 17 (the Añelo "bypass" or ring road), diverting heavy traffic and special cargo away from Route 7 and improving road safety near San Patricio del Chañar and Añelo. Estimated investment ~USD 50 million. Settlors per Law 3537 (read in the primary source): YPF, Vista, Pluspetrol, PAE, Pampa, Tecpetrol, Chevron, Petrolera El Trébol (Phoenix) and Total Austral — 9 companies; Shell appears as a contributor in the press but is NOT a settlor of the contract (it had until 10/24/2025 to join and is not listed). The contribution breakdown, according to specialized press (Annex I of the contract is marked confidential): 5 'main sponsors' (YPF, Vista, Pluspetrol, PAE, Pampa) with ~USD 6.8M each (13.3% each) and 4 'secondary beneficiaries' (Tecpetrol, Total, Chevron, Phoenix) with USD 2.6M each (5% each); construction period 18 months. Once the work is finished, the trust transfers it to the Province via a "donation with charge". Neuquén operates and maintains the routes under a TOLL system whose revenue goes first to maintenance and then to repaying the work; the agreement expires 15 years after the toll concession effectively starts or once the investment is repaid — whichever comes first —, with the tariff adjusted by the variation of grade-2 diesel. In 2026 the model expanded: GeoPark and Harbour Energy were added (11 operators) and new works on Routes 7, 8, 51 and 67, taking the associated road plan to more than USD 150 M with a 2030 horizon (official release, Apr-2026; amounts pending confirmation in the primary source).

Trust constituted on Jun 19, 2025 (addendum Oct 2, 2025); Province-TMF Framework Agreement of Sep 8, 2025; ratifying Law 3537 passed on Nov 13, 2025 and in force since its Official Gazette publication (Dec 1, 2025). Under execution (expansion of the model announced Apr-2026). verif ↗

Vaca Muerta operators (the 9-11 signatories), which advance capital deductible from royalties/taxes. And -key to the observatory- the satellite ecosystem of road construction, earthworks, asphalt, signage and logistics: USD 50 M (and an expanded plan >USD 150 M by 2030) of de facto public works financed by private players, contracted and executed in the territory. Also the route users (carriers, suppliers) who will pay tolls for 15 years in exchange for safer routes and shorter travel times. prob ↗

Neuquén moves from having NO obligation to measure greenhouse gases in oil & gas to a MANDATORY reporting regime. Res. 258/2025 creates the GHG Emissions Monitoring and Mitigation Program for the hydrocarbon sector and requires "every company or group of companies, concessionaires, permit holders, operators" of exploration, exploitation, transport, storage, processing and industrialization of hydrocarbons in the province to report their emissions of methane (CH4), carbon dioxide (CO2) and nitrous oxide (N2O), plus activity variables, mitigation actions and complementary data. Concrete elements: (1) Neuquén formalizes its participation in the MARS system (Methane Alert and Response System) of IMEO-UNEP, which detects by satellite the methane super-emissions defined as those exceeding 500 kg/h, for a rapid response on the source. (2) It takes as reference the OGMP 2.0 standard (Oil & Gas Methane Partnership 2.0), the most demanding international framework for measurement, reporting and verification (MRV) of methane. (3) The GHG Reporting Procedure regulation (April 2026) introduces a progressive system of FIVE reporting levels, with greater technical requirements according to production volume: from disaggregation of emissions by source type and generic factors at the low levels, to own emission factors based on direct measurements and validation by remote detection at the facility level at the high levels; the escalation is gradual toward 2030. (Pending confirmation in the primary source: exact deadlines of each phase, report dates, production thresholds separating the 5 levels, and the sanctioning regime —the sources only refer to the general sanctioning procedure, with no specific fines.)

04/01/2025 (publication in the Official Gazette of Neuquén). Gradual implementation in two phases: a pilot phase of ~1 year (initial survey + sector mitigation plan + preliminary report) and an implementation phase (annual reports validated by authorized third parties), with escalating requirements toward 2030.

Vaca Muerta operators and concessionaires (the large ones obliged to the high reporting levels, with direct measurement and satellite verification) and, above all, the PROVIDERS of environmental and measurement services: methane monitoring/quantification companies (LDAR — leak detection and repair, OGI cameras, sensors, overflights), MRV/OGMP 2.0 consultancies, authorized third-party validators/verifiers of the reports, and mitigation-technology providers (venting replacement, capture, low-emission equipment). It is new forced regulatory demand, distinct from the shale water/waste one. unconf

TWO structural changes for Neuquén mining: (A) ROYALTIES — for the first time the province would charge mining royalties (until now 0%). Art. 6 of the bill sets a scale on the MINE-MOUTH VALUE of all extracted minerals: 3% when the products undergo processing OUTSIDE the provincial territory, and 2% when they undergo intermediate and/or final processing INSIDE Neuquén (an explicit incentive to local value-added). It covers 1st- and 2nd-category minerals of the National Mining Code and 3rd-category ones on fiscal-domain land (Art. 1); the mine-mouth value is determined by Art. 22 bis of National Law 24.196 (Art. 6). It exempts micro-enterprises (Art. 5) and extraction for scientific research / public works (Art. 4). It creates the Mining Development and Environmental Sustainability Fund (FODEMSA, Art. 9-11, an account at Banco Provincia de Neuquén) and the Mining Oversight Fee via an "Oversight Unit" equal to twice the rate of the Annual Tax Law (Art. 12); quarterly tax filing (Art. 7). (B) MINING CODE — a new 288-article Mining Procedure Code that replaces the 1975 Law 902: it digitizes/computerizes file processing, raises environmental provisions to LEGAL RANK (today not recognized as such), organizes dispersed rules in a single body, tightens the inactivity deadlines of claims and creates a regime for 3rd-category (construction) minerals with 10-year extendable concessions and a mandatory fee. PRECISION: the text does NOT nominally name lithium, copper or potassium — it uses the national classification (1st/2nd/3rd category); lithium/copper/potassium fall within but are not enumerated as such. Pending confirmation in the primary source: the final wording may change (deputy Canuto is working on a "more compact" version of the Code).

Not in force. Bills in committee (Energy Committee) as of 05/15/2026, without a report. Submitted by the Executive at the opening of the March 2026 sessions.

Any natural or legal person, public or private, national or foreign, that exploits, industrializes and/or markets minerals granted by the provincial State (Art. 5); joint liability among co-holders. Micro-enterprises are exempt (def. Art. 55 Law 25.300). Concretely: future lithium, copper, gold (Andacollo mine, to be re-tendered via Cormine) and potassium projects developed in Neuquén, today without a royalty burden. For the satellite ecosystem: mining, environmental and oversight-service providers gain new demand (tax filings, control, FODEMSA), and the 2% vs 3% differential rewards whoever installs processing inside the province. unconf

Neuquén takes advantage of the royalty-ceiling loosening enabled by the Ley Bases (27.742) to build its own rent-capture model on the new Vaca Muerta concessions, with five pieces. (1) RATE: it raises the royalty floor from 12% to 18% for the new unconventional concessions (CENCH), per the governor's office announcement of September 2025 ('operators will have to pay an 18% royalty floor, versus the 12% that applied previously') — although reading the instruments issued since then shows something else: in the three decrees read in their primary source (276/25, 277/25 and 1270/25) the rate implemented was 12%, and the extra capture was charged via compensatory bonuses (at Puesto Silva Oeste: USD 5,278,500 against a declared provincial 'expectation' of 15%, plus an Infrastructure Bonus of USD 4 M). The 18% floor still appears in no administrative act. In parallel, for the tender round of 15 areas via GyP (award scheduled 08/19) an 'à la carte royalties' scheme was enabled with a competitive bid in a band of 13% to 17% depending on block productivity, proximity to the hub and product type. (2) EQUITY STAKE: it requires the state company Gas y Petróleo del Neuquén (GyP) to keep a minimum of 10% in the unconventional concessions; the scheme began to apply in the transfer of the La Escalonada and Rincón de la Ceniza areas from TotalEnergies to YPF. (3) BINDING TRIENNIAL MONITORING: the provincial State reviews every three years, on a binding basis (previously only 'indicative'), the development plan committed by the oil companies in three variables —investment, production and activity level—; if the operator does not justify performance below what was committed, the province can reverse up to 50% of the evaluated block, and another 50% of the remainder every three years if the non-fulfillment persists. (4) IN-KIND ROYALTIES: Governor Figueroa is pushing to collect gas and oil royalties in kind and have GyP market that gas as a trader, to supply Hidenesa, expand networks and substitute the (more expensive) LPG consumption in the interior. (5) ANTI-TRANSFER-PRICING REFERENCE PRICE FOR LNG: the Neuquén-YPF agreement for the LNG megaproject (sent to the Legislature on 06/09/2026) sets tiered royalties of 7.5% / 10% / 12% according to the Asian JKM index (below USD 16/MMBtu; between 16 and 20; above 20), with 30-year fiscal stability, a triennial threshold-review mechanism (if the JKM/domestic-price ratio varies more than 15%, the thresholds shift USD 2) and, for gas not destined for LNG, a price equal to the market average to prevent integrated producers from under-declaring the intra-group price and diluting the royalty base. The agreement also includes an infrastructure investment commitment of up to USD 175 million and a 24-month deadline for the final investment decision (FID).

18% + GyP 10% scheme and triennial monitoring: applying since 2025 in the new CENCH. LNG agreement with JKM royalties: in legislative process since June 2026 (not in force until enacted).

Operators and concessionaires of unconventional Vaca Muerta areas (YPF, TotalEnergies and others), which face a higher royalty floor (18%), a forced state partner (GyP 10%) and the risk of losing up to half the block if they do not meet the investment/production plan. For the satellite-services ecosystem the effect is second-order but relevant: the binding triennial monitoring TURNS INTO AN OBLIGATION executing the committed well plan (you cannot sit on the area), which sustains the demand for drilling, fracking, OCTG, sand, water and logistics over time; and GyP's growing role as a partner and in-kind gas trader opens the door to suppliers that contract with the provincial state company. unconf

Decree 1342/2015 (06/19/2015) creates the Provincial Registry of Hydrocarbon Companies, run by the Undersecretariat of Mining and Hydrocarbons. It establishes MANDATORY registry enrollment for every company that operates or wants to operate in the province, with annual data update/ratification (July). It sets a solvency threshold: to hold an exploration permit or an exploitation concession —and for an assignment of rights to be authorized— the company must evidence a Net Equity of no less than $2,000,000 (TWO MILLION Argentine PESOS, NOT dollars; the amount is NOT indexed, so inflation has eroded it to a symbolic floor). Equity is evidenced with financial statements audited and certified by the Professional Council. The decree distinguishes OPERATOR companies (must evidence technical capacity to develop hydrocarbon projects, Art. 2.2.1) from NON-OPERATOR / investor ones (exempt from technical capacity, they may hold stakes in permits, Arts. 2.1.1-2.1.3). In transfers: total assignments (Art. 1.4.2) require the future concessionaire to hold that minimum Net Equity when requesting authorization; partial assignments (Art. 1.4.3) require the resulting association to maintain it. Sanctions (Art. 4.1): warning, suspension of up to 5 years or removal from the registry.

2015-06-19

Operators and investor (non-operator) companies that want to hold permits/concessions or acquire stakes in Neuquén areas; buyers and sellers in M&A operations over concessions (regulatory due diligence); legal-accounting firms that assemble the enrollment and certify financial statements. For satellite-service SMEs the decree is context (it does not enroll them but their operator clients), but it defines the universe of potential clients the province enables to operate. prob ↗

Neuquén created a provincial regime to promote electricity generation from renewable sources that grants, to projects located in the province framed under national Laws 26.190 and 27.191, three provincial tax benefits: (a) Property Tax — a twenty (20)-year exemption on the real estate or part thereof allocated to installing the renewable generation plants; (b) Stamp Tax — a twenty (20)-year exemption on the acts, contracts or operations linked to the development, construction, technology acquisition, civil/electromechanical/electrical works, generation, supply and operation and maintenance of the plants; (c) Turnover Tax — a rate of zero percent (0%) on the renewable-generation activity during the first five (5) years (once that term expires, the Fiscal Consensus rate applies, provincial Law 3090). Adhesion to national Law 27.191 is done with reservation of provincial tax powers and with the exception of the first paragraph of Art. 17 of that law. The regime sets no investment floor and applies to any plant scale (solar/wind/hydro/other renewables).

Law 3108 enacted on 03/22/2018, promulgated on 04/17/2018 and published in the Official Gazette on 04/25/2018; regime operational since its regulation by provincial Decree 355/2019.

Natural or legal persons holding investments or concessionaires of projects to install electricity-generation plants from renewable sources (solar, wind, hydro and other renewables) located in Neuquén, framed under national Laws 26.190 and 27.191. It covers any plant scale, which makes it the fiscal gateway for the mid-sized and small renewable developer/supplier, complementary to Law 3502 ("Invest in Neuquén", floor USD 500,000). prob ↗

Cormine stops being a Provincial State Company (100% state-owned, with no private partners in its capital) to be constituted as a Corporation, a form that enables open share capital and public-private partnerships. The stated objective is that the company "can operate with greater dynamism, attract investment and establish public-private partnerships" to activate strategic mining concessions and studies in lithium, uranium, rare earths and geothermal energy, plus the Andacollo district (gold, silver, copper). The reform comes in a package with: (1) a new Mining Procedure Code that replaces the framework in force since 1975; and (2) a Mining Royalties Regime that sets a 3% royalty on value when the mineral is processed outside Neuquén and 2% when the intermediate or final processes occur inside the province (under analysis in the Legislature's Energy committee, March 2026). As a bridging measure, Decree 455/2026 (03/31/2026) granted a non-repayable contribution of $354,930,331 for operating expenses from April to June 2026, destined to pay salaries of former Andacollo Gold workers (a mine abandoned in 2015), conditional on Cormine submitting a statement of financial position, results and cash flow to the Treasury.

Announcement: January 2026. Decree 455/2026 (contribution): in force from 03/31/2026. Transformation into a Corporation: in process/announced (no confirmed enacted rule).

Mining explorers and operators (lithium, copper, gold, rare earths, uranium); suppliers and service companies of the mining sector; logistics/energy/water SMEs in the Zapala–Andacollo area; the provincial State of Neuquén as a shareholder; former Andacollo Gold workers (beneficiaries of the bridging contribution). unconf

Neuquén enacted a new Tourism Law that replaces the previous framework (repealing Laws 2414 and 3197) and repositions the sector as a policy to diversify the productive matrix, today dominated by hydrocarbons. Concrete changes in the official text: (1) Art. 1 declares tourism a "strategic economic activity of provincial interest" that "contributes to diversifying and broadening the productive matrix". (2) It creates the Provincial Tourism Council (an advisory/consultative, unpaid body) and, below it, Regional Tourism Councils "for each of the regions defined in Law 3480" — it institutionalizes regionalization: each region designs its policy with municipalities and development commissions (Arts. 7-8). (3) Art. 3 subs. m orders managing the sector "under a smart tourism-management system" for provider self-management and data for public policy (press and government call it SIGETUR; the acronym does NOT appear in the law). (4) It creates the "Neuquén Gastronomy Distinction Seal" for food-service, productive establishments and chefs (Art. 3). (5) Accessible and social tourism: Art. 17 orders compliance with provincial Law 3059 (adhesion to national Law 25.643 on accessible tourism). (6) It reinforces the enforcement authority's oversight and sanctioning powers (Arts. 24-30) and places provincially owned tourism infrastructure under its administration. The 2035 projections (2.4 M tourists; 64,267 tourism jobs; 1,592 accommodations; 38,939 beds) are management targets published by the provincial government, they are NOT in the law's articles.

In force since its promulgation by Decree 1003/2025 (August 22, 2025) and publication in the Official Gazette. Full operation depends on the regulation by the enforcement authority (Ministry of Tourism) —

Neuquén tourism-service providers (accommodations, agencies, food service, guides, experiences and active tourism), municipalities and development commissions of each region (Law 3480), and entrepreneurs/SMEs that want to plug into the tourism chain. For the satellite ecosystem: it opens a diversification axis different from Vaca Muerta — nature, gastronomic and adventure tourism in the mountains and lakes — with a regionalized and digitized institutional framework (self-management via a smart system) that lowers authorization friction. Seal-certified gastronomy and accessible tourism are concrete entry niches. prob ↗

Neuquén reorganized the top of its Executive Branch by creating a new ministry —that of Planning, Innovation and Modernization— which concentrates in a single portfolio three functions previously dispersed: (1) strategic planning of the State and the territory; (2) investment and development promotion; and (3) modernization and digitization of public administration. Specifically: it amends art. 2 of the Ministries Organic Law 3420 to add the minister's post to the Cabinet, and under its orbit now report COPADE (Council for Planning and Action for Development), ANIDE (Neuquén Agency of Innovation for Development), ADI NQN S.E. (Neuquén Development and Investment Agency), OPTIC (Provincial Office of Information and Communication Technologies), Neutics SAPEM, EMHIDRO and ENSI. Operationally it is organized in a Planning Secretariat (Decree 0010/2025 structure, to be confirmed). The declared axis is a State with planning that is "smart": digitization of procedures, data interoperability between offices (Neuquén is among the country's leading provinces in State digital interoperability), a provincial fiber-optic backbone (RINO), cybersecurity, AI in the public sector and a "Modernization Roundtable" that integrates all ministries. For the investor, the practical effect is a single interlocutor that unifies territorial planning (where routes, parks, service centers are enabled) with the investment agency, aiming at faster and more predictable approvals.

Law 3470 enacted in 2024; the ministry operational since 03/01/2025 (the minister's swearing-in on 01/02/2025), with a structure regulated by Decree 0010/2025.

Whoever invests and settles in Neuquén —especially the Vaca Muerta satellite ecosystem and the knowledge economy—, because it concentrates in a single portfolio territorial planning, the provincial investment agency (ADI NQN) and State digitization: instead of trudging through several offices, there is a single interlocutor for development. Also the entire provincial public administration, which comes under the modernization leadership (interoperability, digital procedures, fiber optic, AI). thesis For the mid-sized supplier, less bureaucratic friction and a clear approval channel is exactly the kind of governance that cheapens plugging into the boom. unconf

Law 3480 creates the Provincial Regionalization Plan (Art. 1) and divides Neuquén territory into 7 strategic regions with a closed municipal composition (Art. 4): Region 1 Alto Neuquén (seat Chos Malal; Andacollo, Las Ovejas, Loncopué, Caviahue-Copahue, among others); Region 2 del Pehuén (Zapala, Aluminé, Las Lajas, Mariano Moreno, Villa Pehuenia-Moquehue, Bajada del Agrio, Las Coloradas); Region 3 de los Lagos del Sur (Junín de los Andes, San Martín de los Andes, Villa La Angostura, Villa Traful, Pilo Lil); Region 4 del Limay (Picún Leufú, Piedra del Águila, El Sauce, Paso Aguerre, Santo Tomás); Region 5 de la Comarca (Cutral Có, Plaza Huincul, Sauzal Bonito); Region 6 Confluencia (Neuquén, Plottier, Centenario, Senillosa, Vista Alegre, Villa El Chocón); Region 7 Vaca Muerta (San Patricio del Chañar, Rincón de los Sauces, Añelo, Buta Ranquil, Barrancas, Aguada San Roque, Los Chihuidos, Octavio Pico). The law sets objectives of administrative deconcentration, regional integration, development planning and, among them, 'promoting regulatory and tax harmonization' (Art. 3.j) — but it does NOT establish in its text differential rates or tax benefits by region. It empowers the Executive to create new regions or reorganize existing ones, without altering the departmental division. It requires provincial offices to adapt plans and budgets with a 'regionalization perspective' and to file semiannual reports to the Cabinet Ministry (Art. 5). The value for the investor: this law is the OFFICIAL MAP of zones on which the tax benefits then operate — the regionalization of Law 3502 ('Invest in Neuquén') and the 0% Turnover Tax for tourism of Res. DPR 72/2026 are anchored to these 7 regions.

2024-12-03

The entire provincial public administration (centralized, decentralized, autonomous entities and public companies), required to adapt plans and budgets by region. For the investor/company, its relevance is indirect but structural: it defines the territorial unit (region) that the promotion regimes then use to graduate benefits. Whoever assesses settling in Neuquén needs to know which region their town belongs to — e.g. a Vaca Muerta satellite supplier falls in Region 7 (Añelo, Rincón de los Sauces, San Patricio del Chañar), while the tourism promoted at 0% Turnover Tax falls in the southern/mountain regions. prob ↗

Faced with nearly 400 works stalled after the cut in national financing (Dec-2023), Neuquén declared a STATE OF EMERGENCY in provincial public works and created a 2-year Reactivation Plan (extendable 2 more). The core is contractual: (1) the law deems given, for ALL contracts under execution at the time of its enactment, the cause of Art. 74 of the Public Works Law 687 (force majeure / act of God), enabling renegotiation of terms, amounts, investment curve, work plan and price-redetermination system; (2) if no agreement is reached and the contract is terminated, the eventual indemnity to the contractor is limited EXCLUSIVELY to consequential damage, EXCLUDING lost profit (Art. 78 subs. h, Law 687) — in any termination cause. It prioritizes education, health, security/prisons, roads, networks (electrical, gas, water and sanitation), housing and water resources. Under this framework the province projected 451 new works over 3 years for more than USD 2,000 M (188 housing, 98 water/sanitation, 88 energy, 82 education, 45 roads, 31 health, among others) and reactivated key routes for Vaca Muerta such as Provincial Route 7 (the Añelo bypass, together with Route 17). It invites the municipalities to adhere.

Law enacted 04/11/2024, published in the Official Gazette of Neuquén on 05/17/2024. Reactivation Plan valid for 2 years from publication, extendable for another 2 by the provincial Executive. Regulated within 60 days by Decree 500/2024 (prior survey/prioritization by Decree 23/2024).

Construction companies and public-works suppliers with contracts in force or stalled in Neuquén (those who renegotiate recover collection and term certainty, but lose lost profit as an indemnity floor if termination comes). Downstream: road, water/gas/electricity-network, aggregates, freight-transport and engineering-service SMEs that plug into the 451 works. For the Vaca Muerta ecosystem, the reactivation of Route 7 and the Añelo bypass relieve the logistics of heavy transport. prob ↗

Decree 408/2026 regulates Title II (Labor Assistance Fund, FAL) of the Labor Modernization Law 27.802. It creates a new severance system via individual capitalization funds administered by CNV-authorized entities, replacing the traditional severance-pay regime.

The FAL takes effect on 11/01/2026 (extended by art. 27 of the decree).

Private-sector employers (except relationships excluded by the law and the public sector). ARCA, the CNV, ANSES and the Labor Secretariat are involved.

It creates the Public System for the Promotion of Neuquén Employment ("Emplea Neuquén"), with the Ministry of Labor and Labor Development as enforcement authority (art. 24). Components verified in the official text: (1) an EMPLEA NEUQUÉN CERTIFICATE for employers ("indirect recipients") that hire/train people enrolled in the system (art. 14). Key requirement: "In all public or private contracting processes carried out by tender, it will be a priority and mandatory requirement to hold said certification" (art. 14). (2) REQUIREMENTS to certify (art. 15): being registered in Emplea Neuquén and enrolled in the Labor Undersecretariat; no child-labor record; employing or training at least one person from the system; a tax-compliance certificate from the Provincial Revenue Directorate (DPR); not having made dismissals without cause in the prior 2 months. Excluded (art. 16): bankrupt without continuity, final criminal convicts, those exempt from Turnover Tax and those adhering to the Simplified Regime/monotributo. (3) A monthly TAX CREDIT per hired worker (art. 18.a), the amount set by the enforcement authority within the cap the Executive regulates (base amount NOT defined in the law), with cumulative add-ons: +15% if the person is 18-35 years old; +10% if she is a woman, trans or non-binary; +10% if the company is located in towns of up to 5,000 inhabitants; +15% if the person holds a Single Disability Certificate (CUD). An additional tax credit per trained worker (art. 18.b), capped at ≤50% of the hiring one. (4) The credit is applied as a payment on account of Turnover Tax, Property Tax and/or Stamp Tax (art. 19); it is computed while the hiring lasts with a 12-month limit (art. 20); a favorable balance is usable within 36 months. (5) A decentralized EMPLOYMENT-OFFICE NETWORK (art. 7), the Neuquén Active Training Program (art. 8), the Provincial Comprehensive Employment Intermediation Plan (art. 10) and the Neuquén Entrepreneurial Impulse Program with a 12-month Turnover-Tax exemption for new Simplified-Regime entrepreneurs (arts. 12, 22). (6) It integrates into the system Law 3431 (Kimun-Labor Linkage Program, arts. 8 and 27) and Decree 112/2024 (art. 26); it repeals Law 3360 (art. 28).

90 days after its publication in the Official Gazette (art. 30). Promulgated by Decree 544/2025 on 05/14/2025; enacted on 04/24/2025.

Employers (natural and legal persons, "indirect recipients") operating in Neuquén who need to participate in public or private tenders: the Emplea Neuquén certification becomes a mandatory requirement to bid (art. 14). Particularly relevant for SMEs and satellite-service companies of the Vaca Muerta ecosystem that hire local labor. Those exempt from Turnover Tax and those adhering to the Simplified Turnover-Tax Regime are outside the benefit (not the requirement) (art. 16.d). Direct beneficiaries: unemployed people over 18 with real residence in the province enrolled in the system (arts. 3-4). prob ↗

Neuquén replaced its provincial labor-procedure framework, in force without substantive reform since 1985, with a new, digital one. Law 3468 (Art. 1) creates the Labor Secretariat as an "organization with functional autonomy and competence in labor matters", with powers of advice, application of labor law, prevention and resolution of individual and collective disputes, and police power (Art. 2). It decentralizes oversight into six regional delegations — among them a Vaca Muerta Regional Delegation seated in Añelo and Rincón de los Sauces, and a Comarca Petrolera — each with Labor Police, Occupational Health and Safety Police and a Labor Relations area. Art. 57 repeals the previous Law 1625 and Resolution 659. It adds protection against precarization, free legal advice to workers, scope over platform work, a graduated infractions regime (minor/serious/very serious, measured in JUS) and dispute and appeal procedures processed digitally. Decree 984/2025 regulates it and launches the Computerized Employers Registry (RIdE), a 100% digital platform on which every employer (companies and associations, including unions as employers) processes complaints, hearings, assemblies and the registration of industrial actions online. Enrollment in the RIdE is MANDATORY from the Official Gazette publication of 04/17/2026 and functions as a requirement to be a provincial-State supplier and to access the Compre Neuquino, Emplea Neuquén and Kimun Law programs. As of 04/21/2026 there were 417 registered companies.

Law 3468 promulgated on 10/30/2024 (enacted 10/03/2024); regulated by Decree 984/2025; the Computerized Employers Registry (RIdE) is mandatory to enroll from the Official Gazette publication of 04/17/2026.

Every employer with activity in Neuquén — private companies, SMEs, associations and unions in their role as employers. For the Vaca Muerta satellite-service supplier the critical point is operational: enrollment in the RIdE is mandatory from 04/17/2026 and is a condition to be a provincial-State supplier and to hook into the Compre Neuquino, Emplea Neuquén and Kimun Law programs. Without the RIdE those channels are not accessible. The Vaca Muerta Regional Delegation (Añelo / Rincón de los Sauces) concentrates labor oversight in the heart of the cluster. prob ↗